Summary of Final Rule – CFPB Clarifies the Role of Supervisory Guidance for Institutions and Regulators

Updated 05/03/2021

This tool summarizes the CFPB’s final rule addressing the role and scope of supervisory guidance issued by administrative agencies. The following are key takeaways of the changes:

  1. The final rule adopts the proposed rule; and thereby, the 2018 Interagency Statement, entirely.
  2. The final rule is only binding on the CFPB and CFPB-regulated institutions.
  3. The final rule only addresses the scope and applicability of supervisory guidance and does not address standards of supervisory criticism or other documents issued by administrative agencies.

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